So You Want to Learn Finance…
Have you always been fascinated by the intricate web of the economy? Are you good with figures and budgets? Do you want to learn how to handle money? If any of your answers are yes, then finance might be the path for you.
Most colleges offer degrees in finance, from an associate degree all the way up to a PhD. There are many similar degrees you can pursue, like economics, accounting, or business, but a finance degree gives you a closer look at the use of financial resources.
While you certainly will study economics, accounting, and business as a Finance major, you’ll be more focused on managing money. If that sounds like something that intrigues you, then you might want to study finance!
Jobs for Finance Students
If you’ve studied finance or are considering the option, then you might be wondering what career paths are out there for you. The good news is that there are a lot! Finance is a flexible major with a lot of possibilities.
Here are some of the options to consider with a finance degree:
- Accountant
- Budget Analyst
- Financial Analyst
- Market Research Analyst
- Financial Examiner
- Financial Services Agent
- Tax Associate
- Auditor
- Actuary
Knowing how money makes business – and the world – turn ‘round will open up many doors for careers that aren’t strictly finance related either. Finance is a great foundational degree that can easily pivot to wherever life takes you.
So if you’re looking for colleges that’ll give you the best financial education, look no further than this list!
Top Finance Colleges
University of Pennsylvania
The University of Pennsylvania, or UPenn, is a historic American college founded by Benjamin Franklin in the heart of Philadelphia, Pennsylvania. It is one of the top colleges in the world, with around 10,000 students and an acceptance rate of 5.7%.
UPenn has a strong argument for the top spot on this list. Ranked #1 for finance by websites like CollegeFactual, USNews, and Niche, the Wharton School of Business has staked its claim as one of the premier destinations for learning about anything to do with money.
Part of that equation is an unrivaled alumni network. Wharton has over 105,000 alumni – and influential ones at that. The connection and networking opportunities alone make UPenn a premier destination. But it doesn’t end there.
Wharton’s core curriculum is comprehensive and offers specialized electives like Behavioral Finance, the Finance of Innovation, and impact investing. There are also numerous research opportunities and places to gain hands-on experience, like with an investment management club, a global consulting practicum, and a student investment fund.
All these opportunities combined with their world class faculty and prestige make UPenn our top option for finance.
New York University
New York University (NYU) is a top college in New York City, New York. It has a difficult acceptance rate of 12.2% and a large undergraduate student population of around 29,000.
A key selling point of New York University is that it is right by New York’s financial district – less than 5 miles from Wall Street! – giving unparalleled access to internship opportunities and future job networking. NYU also has specialized finance courses like Investment Banking and Asset Management, which employers love seeing on a resume.
The Stern School of Finance is recognized as one of the best out there, and they encourage students to take advantage of their proximity to leading financial institutions by attending seminars and lectures from leading business executives. Whether they are put on by the Dean’s office or a student-run club, there are lots of opportunities to learn from people who have made it in the business.
University of Texas – Austin
UT Austin is a public university in the city of Austin, Texas. It is a very large school, with around 40,000 students. The acceptance rate hovers around 30%, and it is a fantastic school for finance.
The McCombs School of Business at UT Austin hosts many centers and initiatives, allowing students to be involved in important research. It also gives them amazing networking opportunities. Some of these include:
- AIM Investment Center
- Center for Global Business
- Center for Research on Electronic Commerce
- Financial Education and Research Center
- Salem Center for Policy
McCombs also has strong ties to leading financial firms, meaning that graduates have excellent job placement. Finance students at UT Austin find great internships, and around 95% of UT Austin finance majors looking for jobs received offers within three months of graduation. Their average starting salary was $93,000.
Other selling points about UT Austin’s finance department is the sheer size and scale of McCombs, with over 6,000 current students and north of 100,000 alumni. Austin, Texas is also the fastest growing technology hub in the United States, making it an enticing destination.
University of Notre Dame
Well-known college Notre Dame is a great choice for finance majors. Located in Notre Dame, Indiana, the University of Notre Dame has a challenging acceptance rate of 13.8% and a smaller number of undergraduates, with about 8,700 students.
Through the Mendoza School of Business, finance students have access to a curriculum that is both broad and deep. Notre Dame also has a particular emphasis on ethics, allowing you to think about the important questions relating to finance in conjunction with the rest of your studies.
International learning opportunities are another selling point for Notre Dame. Through Emerging Markets Investing, you can travel to London to learn about emerging market economies and economies in transition. You could also spend a week on spring break earning credit with the International Portfolio Management Practicum, giving you real-world experience with a top investment firm.
University of Chicago
Favorably located in the city of Chicago, Illinois, UChicago is an elite college with an acceptance rate of 6.5% and around 7,000 students.
Whether you study in the Chicago, London, or Hong Kong campus, the University of Chicago is a world class institution for finance and business. The Booth School of Business has amazing faculty, including Nobel Prize winners like Eugene Fama, whose work in asset pricing and market efficiency has informed modern finance theory.
UChicago also proudly advertises their Chicago Approach – an educational philosophy they believe is so foundational to their success that they trademarked the name! It is a multidisciplinary framework that helps students root problems in fundamental scientific disciplines to help them ask better questions and find better solutions.
Alumni of the Booth school believe in the method.
- 98% somewhat or strongly agree they know how to think analytically
- 92% feel they can tackle new business problems they haven’t seen before
- 95% somewhat or strongly agree they know how to think strategically
Northwestern University
Also making this list is another top institution from Illinois! Northwestern University can be found in Evanston, Illinois, and has around 8,000 students. It is very difficult to get into, with a 7% acceptance rate, but it has a great finance program.
The Kellogg School’s finance department has faculty renowned for their work in a range of subjections, including:
- Asset Pricing
- Corporate Finance
- Capital Market Dynamics
- Household Finance
- Macroeconomics
- Econometrics
The Kellogg school also has experiential courses to supplement the usual academic classes. These allow students to gain hands-on experience in the field before graduating and finding full time work.
The combination of the faculty, research, curriculum, prestige, and hands-on learning make Northwestern one of the top colleges for finance.
Indiana University – Bloomington
Of all the options on this list, Indiana is our most attainable university for finance. With an acceptance rate of 77.9% and a large student body of 33,000 undergraduates, IU Bloomington is a great option to consider.
IU’s finance department is considered one of the top ones out there, and they have the benefit of having a large set of faculty – 27 tenured or tenure-track professors conducting cutting-edge research in their fields.
There are also workshops available to undergraduate students to help them prepare for their future career. Some of those include:
- Capital Markets and Banking
- Charles Schwab Wealth Management
- Commercial Real Estate
- Investment Banking Workshop
- Investment Management
The four general career paths that the Kelley school of business at IU help prepares you for are:
- Corporate Finance
- Investments
- Banking
- International Finance
If you were looking to enter any of those fields, then IU is one of the best colleges out there for you.
Managing Your Options
Now that you know some of the top options out there to study finance, next up is assessing your options and deciding what makes the most sense for you – sort of like managing a budget.
If you apply your finance skills to looking for colleges, then you can find the option with the best cost-benefit ratio and get an extraordinary education!
